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HomeMy WebLinkAboutFinancial Statements 1997 U 7 THE VILLAGE OF VIENNA Financial Statements December 31, 1997 THE CORPORATION OF THE VILLAGE OF VIENNA Financial Statements Year Ended December 31, 1997 INDEX SECTION The Village of Vienna Consolidated Financial Statements l Financial Information Return 2 The Village of Vienna Unconsolidated Trust Fund 3 THE CORPORATION OF THE VILLAGE OF VIENNA VILLAGE OF VIENNA Consolidated Financial Statements December 31, 1997 THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Financial Statements Year Ended December 31, 1997 Table of Contents PAGE Auditors' Report 1 Balance Sheet Statement of Operations 3 - 4 Notes to the Financial Statements 5 - 8 GRAHAM • SCOTT • ENNS 450 Sunset Drive Chartered Accountants St.Thomas, Ontario N5R 5V1 Telephone: (5 l9)633-0700 Facsimile: (519)633-7009 AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the Village of Vienna We have audited the consolidated balance sheet of The Corporation of the Village of Vienna as at December 31, 1997 and the consolidated statement of operations for the year then ended. These financial statements are the responsibility of the Village's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these consolidated financial statements present fairly, in all material respects, the financial position of the Village as at December 31, 1997 and the results of its operations for the year then ended in accordance with the accounting principles disclosed in Note 1 to the financial statements. St. Thomas, Ontario 9,zedLGLKZ . Scare . SPata March 31,1998 CHARTERED ACCOUNTANTS - 1 - THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Balance Sheet As At December 31, 1997 1997 1996 $ $ ASSETS Unrestricted Cash 480,800 563,846 Taxes receivable 40,262 46,365 Accounts receivable 31,021 25,059 Other current assets - 14,012 552,083 649,282 Restricted Cash 1,691 7,299 TOTAL ASSETS 553,774 651,581 LIABILITIES Accounts payable and accrued liabilities 23,669 18,364 FUND BALANCES AT THE END OF THE YEAR To be used to offset (to be recovered from) taxation or user charges (Note 6) 11,202 96,003 Reserves (Note 4) 518,903 537,214 TOTAL LIABILITIES AND FUND BALANCES 553,774 651,581 See accompanying notes to the consolidated financial statements. - 2 - THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Statement of Operations Year Ended December 31, 1997 Budget Actual Actual 1997 1997 1996 $ $ $ SOURCES OF FINANCING Taxation and user charges (Note 1) Residential and farm taxation 176,993 183,377 208,698 Commercial, industrial and business taxation 35,950 34,483 30,282 User charges 120,323 102,038 149,159 Deduct: amounts received or receivable for county and school boards (Note 1(a)(iii)) (149,788) (149,724) (143,180) Grants Canada 3,124 3,124 i µ""701 Province of Ontario 58,190 57,067 83,294 Other municipalities 6,216 6,216 9,240 Other Investment income 4,000 3,052 21,006 Other 20,280 15,002 14,424 Fund balances at the beginning of the year To be used to offset (to be recovered from) taxation or user charges (Note 6) 96.003 96.003 95.694 TOTAL FINANCING AVAILABLE DURING YEAR 371.291 350,638 469.318 See accompanying notes to the consolidated financial statements. THE CORPORATION OF THE VILLAGE OF VIENNA Consolidated Statement of Operations Year Ended December 31, 1997 Budget Actual Actual 1997 1997 1996 $ $ $ APPLIED TO Current operations General government 78,500 88,455 66,721 Protection to persons and property 8,661 9,262 7,849 Transportation services 31,800 23,217 18,441 Environmental services 74,000 35,201 104,661 Recreation and cultural services 34,620 32,931 22,724 Planning and development 500 410 395 228,081 189,476 220,791 Capital Transportation services 132,920 138,829 - Environmental services 32,745 9,339 - Recreation and cultural services 25,542 35,511 56.831 191,207 183,679 56.831 Net appropriations to reserves and reserve funds (66.380) (33,719) 95,693 Fund balances at the end of the year To be used to offset (to be recovered from) taxation or user charges (Note 6) 18,383 11,202 96,003 TOTAL APPLICATIONS DURING THE YEAR 371.291 350,638 469,318 See accompanying notes to the consolidated financial statements. - 4 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1997 1. SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements of the Municipality are the representation of management prepared in accordance with accounting policies prescribed for Ontario municipalities by the Ministry of Municipal Affairs. Since precise determination of many assets and liabilities is dependent upon future events, the preparation of periodic financial statements necessarily involves the use of estimates and approximations. These have been made using careful judgments. a) Basis of Consolidation (i) Consolidated Balance Sheet This statement reflects the assets and liabilities of the revenue fund, the capital fund and includes the activities of all committees of Council and the following local boards, which are under the control of council: - Vienna Community Centre Board - Museum Board (ii) Consolidated Statement of Operations This statement reflects the consolidated sources of financing and expenditures of the revenue fund, reserves, and the capital fund of the Municipality and those boards, described in Note I(a)(i). All interfund sources of financing and expenditures are eliminated with the exception of interest income and expenses arising from loans and advances between the reserve funds and other funds of the Municipality. (iii) Accounting for County School Board Transactions (gross less reduction) The taxation and other revenues with respect to the operations of the school boards, and the County of Elgin are reflected in the Consolidated Statement of Operations but with no effect on the Municipal Fund Balances since the total is shown as a deduction. In addition the expenditures, assets and liabilities with respect to the operations of the school boards, and the County of Elgin are not reflected in these financial statements. (iv) Trust Funds Trust funds and their related operations administered by the Municipality are not consolidated, but are reported separately on the Trust Funds Balance Sheet and Statement of Continuity. -5 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1997 b) Basis of Accounting (i) Sources of financing and expenditures are reported on the accrual basis of accounting with the exception of principal and interest charges on long-term liabilities which are charged against operations in the periods in which they are paid. (ii) The accrual basis of accounting recognizes revenues as they become available and measurable, expenditures are recognized as they are incurred and measurable as a result of receipt of goods or services and the creation of a legal obligation to pay. (iii) Fixed Assets The historical cost and accumulated depreciation for fixed assets are not recorded for municipal purposes. Fixed assets are reported as an expenditure on the Consolidated Statement of Operations in the year of acquisition. (iv) Capital Outlay to be Recovered in Future Years "Capital outlay to be recovered in future years", which represents the outstanding principal portion of unmatured long-term liabilities for municipal expenditures or capital funds transferred to other organizations, is reported on the Consolidated Balance Sheet. 2. OPERATIONS OF SCHOOL BOARDS AND COUNTY OF ELGIN Further to Note 1(a)(iii), the taxation, other revenues, and expenditures of the school boards and the County of Elgin are comprised of the following: School County Boards of Elgin Taxation and user charges 102,575 40,615 Share of taxation of telephone receipts 4,574 1,960 Amounts requisitioned 107,149 42,575 3. TRUST FUNDS Trust funds administered by the Municipality amounting to $nil (1996 - $527) have not been included in the Consolidated Balance Sheet nor have their operations been included in the Consolidated Statement of Operations. -6 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1997 4. RESERVES AND RESERVE FUNDS The total balance of reserves and reserve funds consist of the following: 1997 1996 $ $ Reserves set aside for specific purposes by Council for acquisition of fixed assets 3,905 428,001 for working capital 20,000 95,000 for museum purposes - 14,213 Total reserves 23,905 537.214 Reserve funds set aside for specific purposes by Council: for construction of sanitary and strom sewers 435,064 for payment of water pipeline 36,784 for museum development 23,150 - Total reserve funds 494,998 - Total reserve and reserve funds 518,903 537.214 Increase (decrease) for the year (33,719) 95.693 5. CONTRACTUAL OBLIGATIONS - MINISTRY OF THE ENVIRONMENT In accordance with the services agreement entered into by the Municipality in 1974 with the Ministry of the Environment, the existing water system is owned and operated by the Ministry. The Municipality is obligated to meet all operating costs and repay the long-term liabilities related to these projects. Included in the Consolidated Statement of Operations are the 1997 charges from the Ministry - water $1 1,958. The Consolidated Balance Sheet does not reflect any assets or liabilities pertaining to the water system except to the extent of service charges due to the Ministry. Information received from the Ministry as at March 31, 1997, indicates the following: Total Accumulated 1997 outstanding surplus debt long-term (deficit) charges liabilities $ $ $ Water system - share of integrated project (10,335) 4,201 36,133 The operating deficits and long-term liabilities indicated above are not reflected in the accompanying financial statements. -7 - THE CORPORATION OF THE VILLAGE OF VIENNA Notes to the Consolidated Financial Statements Year Ended December 31, 1997 6. FUND BALANCE AT THE END OF THE YEAR 1997 1996 $ $ The balance on the Consolidated Statement of Operations of municipal equity of $11,202 (1996 - $96,003) at the end of the year is comprised of the following: For general reduction of taxation 10,657 77,620 For general reduction of user charges 545 18,383 11,202 96,003 7. PUBLIC SECTOR SALARY DISCLOSURE In 1997, no employees were paid a salary, as defined in the Public Sector Salary Disclosure Act, 1996, of$100,000 or more by The Corporation of the Village of Vienna. -8 - ACCOUNTANT'S REPORT THE CORPORATION OF THE VILLAGE OF VIENNA To the Ministry of Municipal Affairs Our audit of the consolidated financial statements of the Corporation of the Village of Vienna for the year ended December 31, 1997 was made for the purpose of forming an opinion on the consolidated financial statements referred to in our auditor's report to the Members of Council, Inhabitants and Ratepayers, dated March 31, 1998. Schedules 1 to 11 of the 1997 Financial Information Return have not been prepared on the same basis as the consolidated financial statements. For the purposes of this report we have performed, at your request, the following procedures in connection with Schedules 1 to 11 of the Financial Information Return of the Corporation of the Village of Vienna for the year ended December 31, 1997. (a) We have compared the amounts disclosed on these schedules to the books and records of the Village of Vienna and found them to be in agreement; (b) We have added and cross-added all schedules and found them to be arithmetically correct, and (c) We have checked the cross-references indicated in the "Cross-References to Other Schedules" section for each of the above-noted schedules, as outlined in the "Instructions for Completing the 1997 Financial Information Return", and found all such cross-references to be in agreement. The above-noted procedures do not constitute an audit of these schedules. Therefore, we do not express an opinion on Schedules 1 to 11 of the 1997 Financial Information Return. St. Thomas, Ontario 9,ral a • Scare • EPt April 15, 1998 Chartered Accountants 1997 FINANCIAL INFORMATION RETURN MUNICIPALITY: Vienna V 3404 in the Region, County or District of: Elgin CO N � DECLARATION OF THE MUNICIPAL TREASURER Pursuant to the information required by the Province under the Muncipal Affairs Act,the following schedules are attached: Edit Check E Completed 1 Analysis of Revenue Fund Revenues 0 Y 2LT Analysis of Taxation 0 Y 2UT Analysis of Upper Tier Requisitions and Direct Charges 0 NA 2MA Analysis of Taxation in Merged Areas 0 NA , 3 Analysis of Current Revenue for Specific Functions 0 j Y 4 Analysis of Revenue Fund Expenditures 0 Y 5 Analysis of Capital Operations 0 i Y Y P P 6 Analysis of Capital Grants and Own Expenditures 0 Y 7 Analysis of Net Long Term Liabilities by Function 0 N 8 Analysis of Long Term Liabilities and Commitments 0 N 9LT Continuity of Upper Tier and School Board Levies 0 Y 10 Continuity of Reserves and Reserve Funds 0 Y 11 Analysis of Consolidated Year End Balances 0 12 Statistical Data 0 N I( i I The schedules have been drawn up in accordance with the instructions provided by the Ministry of Municipal Affairs and Housing. They represent the consolidated financial activities of the municipality,all local boards, including joint boards where applicable and any other local corporate entities set up by the municipality to provide services to ratepayers.The consolidated local boards and entities are: Vienna-Community Centre Board -- Vienna-Museum Board -- — Trust funds administered by the municipality and its local boards,harbour commissions, humane societies, municipal non-profit housing corporations,provincial-municipal housing authorities,sinking funds,retirement or pension plan funds, school boards, conservation authorities,children's aid societies,district health councils, municipal hospitals and gas,telephone and hydro utilities are not consolidated. The schedules have been prepared by: Graham Scott Enns Questions regarding the information contained in them should be addressed to: John Scott. C.A. at: 519-633-0700 (Control Data: $1 $ • Total Revenue-S1 L51 C1 392,0731 Total Assets-S11 L21 Cl 553,774 Total Expenditure S4 L51 C7 327,1501 Edit Checks out of balance 0i Municipal Treasurer Date i I FIR97V3.3 REVENUES I , 3 for the year ended December 31,1997 • r upper school total tier board own revenue purposes purposes purposes 1 2 3 4 . $ $ $ $ Taxation Taxation from schedule 2LT 217,860 42,575 107,149 68,136! (or requisitions from schedule 2UT) 1 0 0 Direct water billings on ratepayers --own municipality 2 47,185 47,185_ --other municipalities 3 22,762 22,762 Sewer surcharge on direct water billings --own municipality 4 0 --other municipalities 5 0 Subtotal 6 287,807 42,57 107,149 138,083 Payments in lieu of taxes • Canada 7 0 Canada enterprises 8 0 Ontario The Municipal Tax Assistance Act 9 0 The Municipal Act,section 157 10 0 Other 11 0 Ontario enterprises Ontario Housing Corporation 12 01 Ontario Hydro 13^ 01 Liquor Control Board of Ontario 14 0 I - 1 Other 151 01 Municipal enterprises 16 0 Other municipalities and enterprises 17 0 Subtotal 18 0 0 0 0 Ontario non-specific grants Ontario Municipal Support Grant 60 44,581 44,581 61 0 Subtotal 69 44,581 44,581 Revenues for specific functions Ontario specific grants 29 2,000 2,000! Canada specific grants 30 3,124 3,1241 Other municipalities-grants and fees 311 6,216 6,2161 Fees, service charges and donations 32 32,091 32,0911 Subtotal 33 43,431 43,4311 Other revenue ' l Trailer revenue and licences 34 0 Licences and permits 35 7,490 7,490 Fines 37 0 Penalties and interest on taxes 38 5,662 5,662 Investment income-from own funds 39 • -other 40 3,052 3,052 Sale of publications,equipment,etc. 42! 0 1 Contributions from capital fund 43 0 Contributions from reserves and reserve funds 44 50 50 Contributions from non consolidated entities 4501 46 471L-7---- 3 �_ 48� 0 -- Subtotal 50 16,254 0 0 16,254 Total revenue 51 392,073 42,575 107,149 242,349 CONTINUITY OF ACCUMULATED NET REVENUE(DEFICIT) The following is a verification of the continuity of Accumulated Net Revenue(Deficit). Accumulated net revenue(deficit), December 31, 1996 (Enter the total of Lines 42 to 55 on Schedule 11 from the 1996 F.I.R.) A 96,003 1997 Revenues(Schedule 1, Line 51, Column 4) B 242,349 1997 Expenditures(Schedule 4, Line 51,Column 7) C 327,1501 Total-A+B-C D 11,2021 1 Actual Accumulated net revenue(deficit), Dec. 31, 1997(Schedule 11, Lines 42 to 5 E 11,202 Difference-D minus E 0 Normally, the difference should be zero or a relatively small number. Please explain any large difference. -_--.--___-._ . --- -.. - _ _ ___ ._J L - 4 for the year ended December 31,1997 LOCAL TAXABLE ASSESSMENT MILL RATES for commercial, cmptr residential commercial residential industrial and use and farm and industrial business and farm business .._—__..__..__ - .. 2 3 4 5 $ s s I.Own purposes (a)Levied by mill rate General 01010 477,9841 44,659 12,8601 107.75701 126.7730 police villages at reduced rates 0102 r- _ farms at reduced rates 0103 _ 01 01 I_ r Special area rates and police villages — -- 01 1 — 01 — -- 01 01 01 01 Merged areas 2MA n e ; ;t'4, ` ( -,, a •I .,:- z�-':S�i,<av�-,.1w i�:� ,:.,�'�,'. Irl �� —__-- Subtotal levied by mill rate 01400 1 (b)Other charges on tax bills Share of telephone and telegraph taxation 01210 2 Local improvements 01220 Sewer and water service charges 01230 Sewer and water connection charges 01240 Fire service charges 01250 Minimum tax(differential only) 01260 Municipal drainage charges 01270 Garbage collection charges 01280 Business improvement area 01290 01300 Subtotal special charges on tax bills 01310 3 II. Upper tier purposes Total own purposes taxation 01320 4 eLevied by mill rate General 020101 477,98) 44,6591 12,8601 74.50501 87.65301 Special purposes 02 02 02 1 1 - --- — 02 — Merged areas 2MA i, _)9`re�: .r.ywi'.. u;i4 __ —L_. et__ - -- ---- ------ — Subtotal levied by mill rate 02400 5 (b)Other charges on tax bills Share of telephone and telegraph taxation 02210 6 Local improvements 02220 Sewer and water service charges 02230 Sewer and water connection charges 02240 Fire service charges 02250 02300 Subtotal special charges on tax bills 02310 7 Ill. School board purposes Total upper tier taxation 02320 8 Elementary public 0301 1 —_' 7 -- --._.- — 0301 —M �— Merged areas 2MA �:, -: "t'' Share of telephone and telegraph taxation 03210 9 Subtotal elementary public 03320 10 Elementary separate --_- -- 0401 11 0401 1 - Merged areas 2MA • - Share of telephone and telegraph taxation 04210 18 Subtotal elementary separate 04320 11 Secondary public(or combined elementary&secondary public) 1 ELGIN 0 01 1 460,303' 42.222' 12 1301 187 9725E-221.14401 Merged areas 2MA Share of telephone and telegraph taxation 0_210 12 Subtotal secondary public 0_320 16 Secondary separate(or combined elementary&secondary separate) ELGIN 0 01 1 17,6811 2,4371 730' 189.51701 222.96101. 001 I Merged areas 2MA _ h�. •, Share of telephone and telegraph taxation 0_210 19 Subtotal secondary separate 0_320 17 Total all school board taxation 08320 14 TAXES LEVIED SUPPLEMENTARY TAXES TOTAL TAXES residential commercial residential commercial total .and farm and industrial _ business _ and farm and industrial business columns 6 to 11 -- 7 e.. 9 10 11 12 -' $ $ $ $ $ $ $ 51,5061 5,662 1,630 4001 -299 -130 58,769 0 - -- I 0 - - 1 ----------F- - _. .--i -- --------- --- 0 4.--- o o o o -Ho °l 51,5061 5,662 1,630 400 -299 -130 58,769 4,357 4,357 5,010 5,010 -._.. I 0 0 0 °1 _ 0 0 5,010 4,357 0 01 0 0 9,367 56,516 10,019 1,630 4001 -299 -130 68,136 _ 35,612 3,9151 1,1271 2771 -2361 -801_-_ 40,615 1 -_� - I 0! o o Cr- 01 0, 0 0 0 35,6121 3,915 1,127 277 -236 -80 40,615 1,960' 1,9601 1 0 01 i 0 01 1,960 0 01 0 0 1,960 35,6121 5,875 1,127 2771 -236] -80! 42,575 1 0 0 �1 01 0 0 0 0 0, o] 0 01 0 01 01 0 - --- 1 - 1 Of - -- - -1 - H-- of 0 o 0� 0 0 0 (1 i 01 01 0 0 0 0 0 01 86,5241 9,3371 2,6821 697' -521) -2011 98,5181 0 I 1 01 0 01 01 of 0} -01 --- 4,078 1 i 4,078' 86,5241 13,415f 2,6821 6971 -521 -2011 102,596 3,3511 543 163! 1 4,057 1 1 -----' --0' 01 0 - O' - -... -- - ---- ----------1 -. 4961 1 i ---1 -----------496 3,351 1,039 163! 01 0 0 4,553 89,875 14,454 2,8451 6971 -521 -201 107,149 FOR SPECIFIC FUNCTIONS i_ - _ I 7 for the year ended December 31,1997 other Ontario municipalities- fees,service specific Canada grants,fees,and charges and grants grants service charges donations 1 2 3 4 $ $ $ $ General government 11 316 Protection to persons and property I Fire 21 Police 3r Conservation authority 4 Protective inspection and control 5 6 Subtotal 7 0 0 0 0 Transportation services Roadways 8 0 Winter control 9 1 1 Transit 10, Parking 111— — --_ 1 —}--- Street lighting 121 Air transportation 131 r 14 Subtotal 15 0 0 0 0 Environmental services Sanitary sewer system 16 ~ Storm sewer system 17 Waterworks system 18 5,8811 Garbage collection 19 Garbage disposal 20 Pollution control 21! 0 � 221 Subtotal 23 0 0 _J 5,881 Health services Public health services 24, ----- Public health inspections and control 251 — -- — — �— i Hospitals 26. if Ambulance services27 L Cemeteries 281 291 Subtotal 301 OI 0 0 0 1 Social and family services General assistance 31 Assistance to aged persons 32� — Assistance to children 33 _ I Day nurseries 34 351 1- S u btota l 361 0 Ol 0 0 Recreation and cultural services Parks and recreation3712,000 i 15,267 1 Libraries 38 6,216 Other cultural 39 3,1241 10,332' Subtotal 40 2,000 3,124 6,216 25,599 Planning and development 1 Planning and zoning 41 2951 Commercial and industrial 42 Residential development 43 Agriculture and reforestation 44 i Tile drainage/shoreline assistance 45 - , • - . , - =-,,,:a 46! Subtotal 47 OI 0 0 295 y Electricit 48 I I Gas 49-- ---�--- I I-- -- --- ---------------- j Telephone 50 j j Total 51 2,0001 3,1241 6,216 32,091 ANALYSIS OF REVENUE FUND 1 v1Gl111lia r -r . EXPENDITURES 1 J 8 I for the year ended December 31,?997 materials, salaries, services, wages and rents and transfers employee - net long term financial to own other benefits debt charges expenses funds transfers.. — -_.._— 1 2 3 4 5 $ $ $ $ $ General government 1 52,844 35,611 77,697! Protection to persons and property Fire 2 1 5,679, —— Police 3 1 Conservation authority 4 661 Protective inspection and control 5 925 1,997 Subtotal 7 925 0 7,676 0I 661 i Transportation services Roadways 8 9,249 3,503 2,761 I Winter control 9 6,155 1 Transit 10 Parking 11 . Street lighting 12 100 4,210 2,802 Air transportation 13 — — 111 __.---_ i, 141 I Subtotal 15 9,349 0 13,868 5,563011 ' f Environmental services i i Sanitary sewer system 161 I 10,000,_ -- Storm sewer system 17 Waterworks system 18 4,044 11,9581 11,697 —Garbage collection 19 16,649 -- i Garbage disposal 20 2,550! Pollution control 21 1,1'191r _ I Subtotal 23 4,0441 0 31,157 22,816 0 Health services Public health services 241 1II --Public health inspections and control 251 I _�--_---.._ { ___ Hospitals 26~ j I —.. _1 Ambulance services 271 Cemeteries 28 — 29 i Subtotal 30 0) 0 0 0l 0 • Social and family services I General assistance 311 ---___—_ —__—.— Assistance to aged persons 32! I Assistance to children 33 1 Day nurseries 34 -111 . __._ 35,. —F Subtotal 36 0 0 0 0 0 Recreation and cultural services Parks and recreation 371 4,170 16,674 9,8041 — Libraries 381` 4261 2,1611 — — — Other cultural 391 5,513 j 3,9871 21,794 Subtotal 40 10,109 01 22,8221 31,598 0 Planning and development Planning and zoning 411 1 410, , —1 Commercial and industrial 421 Residential development 43! I — I i —I Agriculture and reforestation 441 I14'37' ,tea t ,i'as:s. �`� � "`»�. Tile drainage/shoreline assistance 45 !lam t. R_,r,°vK `- ' ��`^� K- 46i—Subtotal 47 01 01 4101 0 0 Electricity 481_ _j _ 1 �— ----� Gas 49� I— ` ! --- Telephone 501 ,I_ I Total 51 77,271 0 111,544 137,674, 6611 1 Vicuaaa V c{. 1 B Inter- functional total transfers expenditure 6 7 r (- 8 $ $ I $ I I 166,152 1! Total of column 2 includes: Payments to Ontario in respect of Down- town Revitalization Program loans 81 1 5,679 2 OI 3 Accrued interest(enter an amount only 661 4 if the change to the accrual basis — _— 2,922 5 was made in this reporting year) 82 0 6 ( 0 9,262 7 Interest portion of transit debt charges i included on line 10 83[- — —I 15,513 8 ____,_— 6,1551 9 Total of column 3 includes: 10, 1 Ontario Clean Water Agency -- 0 11 Provincial projects service charges 7,112 12 -water 52 0 13 -sewer 53 0 14 Provincial projects frontage and 0 28,780 15 connection charges-water 57 -sewer 58 ---1 Joint projects operating charges 10,000 16! -water 54 7,545 01 17 -sewer 55 27,699 18 O.P.P.policing contracts 561 t 16,649 19 Short term interest costs 60 -- — 2,5501 201 .........-- ------------ ---- ---+ I------ -- - - - _ — — 1,1191 21 0 22 (Total of column 5 includes: ( 01 58,017 23 Grants to charitable and non-profit organizations 62 1 Grants to universities and colleges 631 0 24 1 Contributions to UNCONSOLIDATED 0 25 joint local boards i j 0 26 ! Health unit 641 1 0 27 1 District welfare board 65 0 28! Home for the aged 66. 0 29! Recreation board(s) 671 1_. ! 0 0 30 Fire area board 681 1 I Suburban roads commission 69 ( 70 --i' 01 31 I 71 --- 0 32 I 0 33 - O 34 Line 1 of column 7 includes: O 35 Members of council 72 16,396 1 0 0 36 _ Line 51 of column 7 includes: ( 30,6481 37 Payments in respect of long term commit- _..._ .-- ---- — =-------- --- 2,587 38 ments and liabilities financed from revenue, 31,294 39 as approved by the Ontario Municipal Board ( 0 64,529 40 or Council,as the case may be. Exclude 1 ! debt charges reported in column 2. 731 -� 410 41 — ---- -- 0 42 ( -- -- 0( 43 i__._..._-._..—._... .. --- 1 0 441 O 45 O 46, 0 410 471 011 481 O 50 0 327,1501 511 r'••Vfa.•vaI v• v•--•I I•I".L.. v. LIN..-,,IVI,. , V I%.alll[l ♦ ..! 9 for the year ended December 31, 1997 1 . $ Unfinanced capital outlay (Unexpended capital financing) at the beginning of the year 1 Sources of financing Contributions from own funds I Revenue fund 21 27.3431 Reserves and reserve funds 31 144,000 Subtotal 4 171,3431 Long term liabilities incurred Central Mortgage and Housing Corporation 5 Ontario Financing Authority 7__ � Commercial Area Improvement Program 9 Other Ontario housing programs 10 Ontario Clean Water Agency 11 Tile drainage and shoreline property assistance programs 12 The Public Serial debentures 13 Sinking fund debentures 14 151 — 161 i 171 i Subtotal* 18 0 Grants and loan forgiveness Ontario 20] 10,486! Canada 211 0 Other municipalities 221 01 Subtotal 231 10,4861 Other financing Prepaid special charges 24 1 Proceeds from sale of land and other capital assets 25 Investment income From own funds 261 Other 271 Donations 28 1,850] 30� 1 { 1 Subtotal 32 1,850 Total sources of financing 33 183,679 I Applications Own expenditures Short term interest costs 34 Other 35 183,679! Subtotal 36 183,6791 1 Transfers of proceeds from long term liabilities to: Other municipalities 37' Unconsolidated local boards 3811 Individuals 391 Subtotal 40 0 ! Transfers to reserves,reserve funds and the revenue fund 41 Total applications 42 183,679 Unfinanced capital outlay(Unexpended capital financing)at the end of the year 43 0 Amount reported in line 43 analysed as follows: Unapplied capital receipts(negative) 44 —1 To be recovered from: ; -taxation or user charges within term of council 45 -proceeds from long term liabilities 46 -transfers from reserves and reserve funds 47,_ 48 Total unfinanced capital outlay(unexpended capital financing) 49 01 i -amount in line 18 raised on behalf of other municipalities 191 _ —' l,1\�\IYI J V 11.G1111. V V AND OWN EXPENDITURES 10 for the year ended December 31, 1997 CAPITAL GRANTS TOTAL Ontario Canada Other OWN ___ grants grants municipalities EXPENDITURES . . 1 2 3 4 -- $ $ $ $ General government 1 Protection to persons and property 1 Fire 2 Police 3 Conservation authority 41- Protective inspection and control 5 Subtotal 7 0 0 0 0 Transportation services Roadways 8 2,266 136,027 Winter control 9f Transit 101 Parking 111 Street lighting 12, 2,802 Air transportation 13 _ 14 1 Subtotal 15 2,266 0 0 138,829 • Environmental services , Sanitary sewer system 161 , Storm sewer system 171 Waterworks system 18, 1 Garbage collection 19I Garbage disposal 20 1 Pollution control 21 8,220 9,339 22 -- i Subtotal 23 8,220 0 0 9,339 Health services Public health services 24 Public health inspections and control 25, 1 Hospitals 26 1 Ambulance services 271 Cemeteries 281 29 Subtotal 30 0 01 0 0 i Social and family services General assistance 31 { Assistance to aged persons 32 I Assistance to children 33 _ 1 Day nurseries 34 j 35 1 Subtotal 36 0 0 0 0 Recreation and cultural services Parks and recreation 37 24,654 Libraries 38 Other cultural 39 10,857 Subtotal 40 0 0 0 35,511 Planning and development Planning and zoning 411 Commercial and industrial 421 — 1 – -I — - – Residential development 43 I Agriculture and reforestation 441 Tile drainage/shoreline assistance45 , 46 Subtotal 47� Cl O 0I 0 Electricity 48 • Gas 49 ( — — i Telephone 50 1 Total 51 10,486 01 0 183,6791 LIABILITIES AND COMMITMENTS t2 for the year ended December 31,1997 j 1 i $ { 1.Calculation of debt burden of the municipality All debt issued by the municipality,predecessor municipalities and consolidated entities :To Ontario and agencies 1 :To Canada and agencies 21 :To other 3 Subtotal 4 0 Plus:All debt assumed by the municipality from others 5 Less:All debt assumed by others :Ontario 6 : Schoolboards 71_ :Other municipalities 8 I Subtotal 9 0 Less:Ontario Clean Water Agency debt retirement funds -sewer 10' -water - 11 Own sinking funds(actual balances) -general 12 -enterprises and other 13 Subtotal 14 0 Total 15 0 Amount reported in line 15 analyzed as follows: Sinking fund debentures 16' Installment(serial)debentures 17 Long term bank loans 18C Lease purchase agreements Mortgages 20 Ontario Clean Water Agency 22 _- 23 24 2.Total debt payable in foreign currencies(net of sinking fund holdings) U.S.dollars-Canadian dollar equivalent included in line 15 above 25 1 -par value of this amount in U.S.dollars 26 Other -Canadian dollar equivalent included in line 15 above 27 281 3.Interest earned on sinking funds and debt retirement funds during the year Own funds 29 Ontario Clean Water Agency-sewer 30 -water 31F - 4.Actuarial balance of own sinking funds at year end 321_ i $ 5.Long term commitments and contingencies at year end Total liability for accumulated sick pay credits 33' Total liability under OMERS plans 34. 35 Total liability for own pension funds 36' 37� 38 Commitments and liabilities financed from revenue,as approved by the Ontario Municipal Board or Council, as the case may be -hospital support 39 -university support 401 -leases and other agreements 41 42 - 431 44 Total 451 0 LIABILITIES AND COMMITMENTS L ' ........ J 12 for the year ended Oecernber 31,1997 6.Ontario Clean Water Agency Provincial Projects accumulated total outstanding debt surplus(deficit) capital obligation charges 1 2 7- 3 i $ $ $ Water projects -for this municipality only 46 -share of integrated project(s) 47 -10,3351 36,1331 4,201 Sewer projects-for this municipality only 48 I share of integrated project(s) 491_ principal interest 1 1 2 7. 1997 Debt Charges $ $ Recovered from the consolidated revenue fund -general tax rates 50 -special area rates and special'charges 51 ' -benefitting landowners 52 -user rates(consolidated entities) 53 Recovered from reserve funds 54 Recovered from unconsolidated entities -hydro 55 -gas and telephone 57 I 56 58 59 Total 78 0 0 Line 78 includes: Financing of one-time real estate purchase 901 Other lump sum(balloon)repayments of long term debt 911 8. Future principal and interest payments on EXISTING net debt recoverable from the recoverable from recoverable from consolidated revenue fund reserve funds unconsolidated entities principal interest principal interest principal interest 1 2 3 4 5 6 $ $ $ $ $ $ 1998 601 1999 61~— I ---- —1. -- - 2000 62 I T — 2001 63 _ —2002 64 1 _ 2003-2007 65 2008 onwards 797 i Interest to be earned on sinking funds* 691 i i Downtown revital- izetion program 70 ! —1 Total 71 0 0 0 0 0 0 *includes interest to be earned on Ontario Clean Water Agency debt retirement funds 9. Future principal payments on EXPECTED NEW debt I 1 $ 1998 721 1999 731 2000 74 2001 75, I 2002 761-- Total 77 0 . 10. Other notes(attach supporting schedule as required) • . principal interest 1 -- , 2 11.Long term debt refinanced: $ i $ Repayment of Provincial Special Assistance 92 — — Other long term debt refinanced 93 I..VIV I IIVUI 17 lir urrCt( IICI'Y HIVU j V ICltua v I clI— I SCHOOL BOARD LEVIES 3 for the year ended December 31,1997 i balance at beginning amounts supplementary total amount of year requisitioned taxes expended levied UPPER TIER I -. t 2 --- 3 � 4 T 5 -- . $ $ $ $ I $ Included in general mill rate for upper tier purposes General requisition 1 42,614 -39 42,575 Special purpose requisitions Water rate 2 0 Transit rate 3 I 0 Sewer rate 41 I 0 Library rate 5j 0 Road rate 6 I I 0 Payments in lieu of taxes 9 0 Telephone and telegraph taxation 10 0 Subtotal levied by mill rate--general 11 42,614 -391 42,575 40,615 Special purpose requisitions Water 12 01 Transit 131 01 Sewer 14L.. 1 -- Library 151 I �- 011 1. 161 .— --- 0{ 17' - H — of Subtotal levied by mill rate--special areas 18 0 0l 0 1 Special charges 19 _--- 01 Direct water billings 20 0 Sewer surcharge on direct water billings 211 I Total region or county 22 0 42,614 -39 42,5751 40,615 pupils' balance at fees,share beginning amounts supplementary of trailer total of year requisitioned taxes licences expended SCHOOL BOARDS 1 2 3 a 1 5 $ $ $ $ I $ ' I Elementary public(specify) 30 0 31 -- — —. —. — — 0i i Elementary separate(specify) 40 I I 0 61 41 421 9-1 I Secondary public(specify) 0 102,621 -251 ELGIN 102,596, 11 - ,. — 0- Secondary separate (specify) ELGIN 0 I 4,5531 0 I 4,5531 2 I -- i -- Q Total school boards 36,.__ 0 107,174 -25 0 107,149 4 ........ I i.., 13 telephone share of and share of payments balance telegraph Provincial in lieu of total at end taxation grants taxes other raised of year 6 8 9 10 T— 12 11 $ $ $ $ I $ $ 1 2 3 4 1 6 7 8 9 10 iI1,960 42,575 0 11 12 13 14 15 16 ' 17 0 0 18 I j I _- 0 0119 1-- - -� 0 OI 20 -- 1 0 01 21 1 ..-------- 1,960., 0 0 0 42,575 0 22 telephone share of pupils' and payments fees,share balance amount telegraph in lieu of of trailer total at end --- levied taxation taxes licences raised of year s f 7 8 9 — 10 11 --'-- $ $ $ $ $ $ 0 0130 0 --91 31 - --- -- --I - - -- - 0 Oi 40 .....------- - I 0 1 41 0 Oj 42 98,518 4,078 102,596 0 0 0 0 1 I -- - 4,0571 496 ---� -- I -- 4,553 0 0 0 ! OI 1 i T- --- 01 2 IL 102,575 4,574 Ol 0 107,149 O) 36 1 VVIYIIIYIIII I VI 1\I_%JL-I\V ♦ 11:111141 V IV AND RESERVE FUNDS 15 for the year ended December 31,1997 1 Balance at the beginning of the year 1 537,21 Revenues Contributions from revenue fund 2[_ 110,331 Contributions from capital fund 3 Development Charges Act 67 Lot levies and subdivider contributions 60 Recreational land(the Planning Act) 61 Investment income-from own funds 5 -other 6 15,408 9 10 111 12 Total revenue 13 125,739 Expenditures Transferred to capital fund 14 144,0001 Transferred to revenue fund 15, 5L3 Charges for long term liabilities-principal and interest 16 63 i 20. 21 Total expenditure 22 144,050 Balance at the end of the year for: { Reserves 23 — 23,905 Reserve Funds 241 494,998 Total 25'� 518,903 Analysed as follows: Working funds 26 20,000 Contingencies 27 Ontario Clean Water Agency funds for renewals,etc. -sewer 28 -water 29 Replacement of equipment 301 Sick leave 311 Insurance 32 Workers'compensation 33 Capital expenditure-general administration 34 -roads 35 -sanitary and storm sewers 36 435,0641 -parks and recreation 64 2,0001 -library 65- -other cultural 66 -water 38 36,7841 -transit 39 -housing 40 -industrial development 411 -other and unspecified 42 Development Charges Act 68 Lot levies and subdivider contributions 4. Recreational land(the Planning Act) 46 Parking revenues 45 Debenture repayment 47 Exchange rate stabilization 48 Waterworks current purposes 49 1,691 Transit current purposes 50 Library current purposes 511 • Recreation current purposes 52 214 Museum 531 23,150 5. • 551 — 56i 1 57 Total 58 518,9031 YEAR END BALANCES I J 16 as at December 31,1997 — - - 2 $ $ ASSETS f portion of cash not Current assets I in chartered banks Cash 1 482,491 Accounts receivable Canada 2 Ontario 3 24,184 Region or county 45[ 1 12 Other municipalities 5 9921 School boards 61 2681 portion of taxes 1 'Waterworks 7 receivable for Other(including unorganized areas) 8 5,465 business taxes Taxes receivable - -- Current year's levies 9 19,800 56 Previous year's levies 10h 8,586 Prior years'levies 11 6,854 Penalties and interest 12 5,022 Less allowance for uncollectables(negative) 13, Investments(market value ) —' Canada 14T Provincial 151 Municipal 16� Other 17 portion of line 20 Other current assets 18f for tax sale/lax Capital outlay to be recovered in future years 19 registration Other long term assets 20 — '--' Total 21 553,774 LIABILITIES portion of loans not Current liabilities from chartered banks Temporary loans-current purposes 22 -capital-Ontario 23– -Canada 24 -Other 25 Accounts payable and accrued liabilities ----' Canada 26 Ontario 27 5,939 Region or county 28 Other municipalities 29 3,247 School boards 30 Trade accounts payable 31 14,483 Other 32L Other current liabilities 331 Net long term liabilities Recoverable from the Consolidated Revenue Fund -general tax rates 34 -special area rates and special charges 35 --� -benefitting landowners 36 -user rates(consolidated entities) 37 -^j Recoverable from Reserve Funds 38 1 Recoverable from unconsolidated entities 39, Less: Own holdings(negative) 40f Reserves and reserve funds 41 518,90 Accumulated net revenue(deficit) General revenue 42 10,657+ Special charges and special areas(specify) 43 44 45 46 Consolidated local boards(specify) Transit operations 47 Water operations 481 Libraries 49C Cemeteries 50t Recreation,community centres and arenas 51 52 _ 545 53r- 54-- 55 Region or county 56 School boards 57 Unexpended capital financing/(unfinanced capital outlay) 581 Total 591 553,774 17 for the year ended December 31,1997 -- 1 1. Number of continuous full time employees as at December 31 . • Administration 1 Non-line Departmental Support Staff 2 Fire 3 Police 4 Transit 5 Public Works 6 Health Services 7 Homes for the Aged 8— Other Social Services 9 Parks and Recreation 10 Libraries 11 Planning 12 Total 13 0 continuous full time employees December 31 Other 1 2 2. Total expenditures during the year on: $ $ Wages and salaries 14 66,236 Employee benefits 15 4,596 1 3. Reductions of tax roll during the year(lower tier municipalities only) Cash collections:Current year's tax 16 198,060 Previous years'tax 171 25,776 Penalties and interest 181 5,789 Subtotal 19 229,625 Discounts allowed 20 Tax adjustments under sections 363 and 364 of the Municipal Act -amounts added to the roll(negative) 22 -amounts written off 231 II Tax adjustments under sections 421,441 and 442 of the Municipal Act -recoverable from upper tier and school boards 24 1,35 -recoverable from general municipal accounts 25 654 Transfers to tax sale and tax registration accounts 26 The Municipal Elderly Residents'Assistance Act-reductions 27 -refunds 28 80 Total reductions 29 231,633 • Amounts added to the tax roll for collection purposes only 30 Business taxes written off under subsection 441(1)of the Municipal Act 81 1 4. Tax due dates for 1997(lower tier municipalities only) Interim billings: Number of installments 31 Due date of first installment(MMDDYY) 32 22797 Due date of last installment(MMDDYY) 33 52997 Final billings: Number of installments 34 2 Due date of first installment(MMDDYY) 35 82897 Due date of last installment(MMDDYY) 36 1127971 • Supplementary taxes levied with 1998 due date 37 5. Projected capital expenditures and long term . financing requirements as at December 31 long term financing requirements approved by submitted but riot forecast not yet gross the O.M.B. yet approved by submitted to the expenditure - or Council O.M.B.or Council O.M.B.or Council 1 2 3 ( 4 Estimated to take place In 1998 58 In 1999 59 _ In 2000 60 f In 2001 61 • In 2002 62. Total 63 0I 01 01 0 • I balance in fund I loans outstanding 1 2 $ $ I 6. Ontario Home Renewal Plan trust fund at year end 82 OI 0 for the year ended December 31,1997 " ---- -- -_J ,7 7. Analysis of direct water and sewer billings as at December 31 number of 1997 billings !Place cirrserci ceii ri cot N nd press residential residential f all other computer use • ,CNTLSM to enter mur is p I ame__ -J Units Units � properties Only 1 - -2 I 3 _.,-4 ----I ' Water $ $ ' In this municipality 3B� 128 44,0051 3,180, ' In other municipalities(specify munic'ty) II- -- 40 28 15,843 6,919 0 -- 41 -' 0 -- 42 -I-- - -- 0 -- 43 0 - 84 0 number of 1987 billings .l i residential residential all other computer use J units units properties only 1 2 3 4 Sewer $ s In this municipality 44i. In other municipalities(specify munic'ty) i . -- 45 1 0 -- 46 -- —1- -_J -- 47_ I • i -- 65 O water sewer Number of residential units in this municipality receiving municipal water 1 2 and sewer services but which are not on direct billing 66( 87 Selected investments of own sinking funds as at December 31 other own municipalities, municipality school boards Province Federal I1 I 2 3 4 S S S S Own sinking funds 831 I i— --- - — — 9.. Borrowing from own reserve funds 1 -� S Loans or advances due to reserve funds as at December 31 84 21 6971 10. Joint boards consolidated by this municipality this municipal- —_ contribution ity's share of for total board from this total municipal computer expenditure municipality contributions use only I- 1 2- 3 4 ..._ name of joint boards I $ $ 53 54 55---- 56'- i _ ___I 57 — tile drainage, - - J 11. Applications to the Ontario Municipal Board shoreline assist- or to Council ante,downtown revitalization, other other electricity submitted submitted gas,telephone 1 to O.M.B. to Council i total 1 2 4 3 $ $ I $ $ App'd but not financed as at Dec 31,1996 67 0 Approved in 1997 88 — - 0 Financed in 1997 69 0 No long term financing necessary 70 0 App'd but not financed as at Dec 31,1997 71 OI 0 OI 0 Applications submitted but not approved as at December 31,1997 721 1 0 12. Forecast of total revenue fund expenditures - 1999 2000 l 2001 2D02 ( 1998 1 2 3 I 4 5 I $ 1 $ $ i y I $ ' 73 I• 13.Municipal procurement this year f number of contracts ! value 1 2 $ Total construction contracts awarded 851 , i Construction contracts awarded at$100,000 or greater 861 THE CORPORATION OF THE VILLAGE OF VIENNA VILLAGE OF VIENNA Unconsolidated Trust Fund December 31, 1997 GRAHAM • SCOTT • ENNS 450 Sunset Drive Chartered Accountants St.Thomas, Ontario N5R 5V1 Telephone: (519)633-0700 Facsimile: (519)633-7009 AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of The Corporation of the Village of Vienna We have audited the trust fund balance sheet of The Corporation of the Village of Vienna as at December 31, 1997 and the trust fund statement of continuity for the year then ended. These financial statements are the responsibility of the Village's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these financial statements present fairly, in all material respects, the financial position of the trust fund of the Village as at December 31, 1997 and the continuity of trust fund for the year then ended in accordance with the accounting principles disclosed in Note 1 to the financial statements. St. Thomas, Ontario 9,reactot . Scare . Eoteeta March 31,1998 CHARTERED ACCOUNTANTS - 10 - THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Balance Sheet As At December 31, 1997 ASSETS 1997 1996 $ $ CURRENT Cash - 411 Ontario Home Renewal Plan Loans receivable - 527 938 LIABILITIES Capital balance - 938 See accompanying notes to the financial statements THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Statement of Continuity As At December 31, 1997 1997 1996 S $ Balance, beginning of year 938 1.313 Capital receipts Interest earned 13 36 Expenditures Repayment to Ministry of Housing 905 388 Admistration fees 46 23 951 411 Balance, end of year _ 938 See accompanying notes to the financial statements THE CORPORATION OF THE VILLAGE OF VIENNA Ontario Home Renewal Plan Trust Fund Notes to the Financial Statements As At December 31, 1997 1. SIGNIFICANT ACCOUNTING POLICY Basis of accounting Capital receipts and income are reported on the cash basis of accounting. Expenditures are reported on the cash basis of accounting with the exception of administrative expenses which are reported on the accrual basis of accounting, which recognizes expenditures as they are incurred and measurable as a result of the receipt of goods or services and the creation of a legal obligation to pay. 2. ONTARIO HOME RENEWAL PROGRAM The Ontario Home Renewal Program was established by the Ontario Ministry of Housing in 1973 to provide grants for municipalities to make loans to assist owner occupants to repair, rehabilitate and improve their home to local property standards. Individual loans are limited to $7,500 of which the maximum forgivable portion is $4,000. Ontario Home Renewal Program loans receivable at December 31, 1997 comprise repayable loans of $nil (1996 - $527) and forgivable loans of $nil (1995 - nil). Loan forgiveness is earned and recorded at a rate of up to $600 per year of continued ownership and occupancy. In the event of the sale or lease of the home or in the event of the homeowner ceasing to occupy the home, the balances of the repayable loan and the unearned forgivable loan immediately become due and payable by the homeowner.